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HMRC's new pension schemes service opens

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HMRC's new manage and register pension schemes service opened on 4 June for pension scheme administrator registrations and applications to register pension schemes.

HMRC's new manage and register pension schemes service opened on 4 June for pension scheme administrator registrations and applications to register pension schemes.

Offering a limited range of facilities initially, the service will be developed over the next two years and will replace the pension schemes online service completely after 2020.

During the first few days, the status of applications for scheme registrations will not be visible. This will only become available on 11 June.

Non-trading companies or public sector organisations will need a 10-digit corporation tax unique taxpayer reference (UTR) to use the new service.

Later in 2018, HMRC intends to add functionality to:

  • amend pension scheme details;
  • associate/add additional pension scheme administrators to a scheme;
  • remove scheme administrators in certain circumstances;
  • decline an invitation to be associated to a scheme as pension scheme administrator; and
  • remove yourself as a pension scheme administrator from the new service.

Phase two in 2019 will introduce further new features, including:

  • pension scheme reporting;
  • signing up pension scheme practitioners;
  • penalties and assessments for pension schemes; and
  • notifications, notices and letters.

The service was originally due to launch in early May.

See ‘Manage and register pension schemes service newsletter - June 2018’ (https://bit.ly/2Howr4L).

Issue: 1402
Categories: News , Pensions & investments
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